In a move partly accelerated by the pandemic, we are experiencing a shift towards more “caring” businesses. That is, leaders are paying increasing focus to activities intended to have a positive influence on their communities and stakeholders.
There are clear business benefits too, of course, including bolstering efforts to re-connect the workforce following an extended period of isolation, and driving greater productivity.
Used correctly, corporate social responsibility (CSR) can help a company be socially accountable to itself, its stakeholders, and the public.
Research shows that up to 78 per-cent of employees want to engage with CSR initiatives, while 76% of millennials now actively consider an organisation’s social and environmental activity when deciding where to work.*
It allows businesses of all sizes to enact positive change – from fundraising efforts to volunteering and giving back.
Key benefits of effective CSR activity include:
- Boost employee morale
- Attract and retain talented people
- Increase engagement and productivity
- Strengthen customer loyalty
By taking a strategic approach to company policies and procedures, leaders can reap the rewards of enhanced staff performance, improved business continuity, and reduced costs. If employees feel actively engaged in the future direction of the business, they will be less likely to move on.
Taking practical steps can also help foster a happier, more inclusive, and productive workplace by increasing performance and job satisfaction levels – ultimately, supporting the firm’s bottom line.
Does your organisation have a CSR strategy or needs to review its overall impact? Get in touch today to discuss how Lindsay & Lang can help support your objectives.
*Reference pwc Millennials at work Reshaping the workplace